Binance P2P platform to halt ruble trading

From 31 January 2024, 00:00 UTC (03:00 MSK), the Binance exchange’s P2P platform will halt support for trading pairs denominated in the Russian ruble.

Until that date, users can withdraw funds in this currency through the exchange’s fiat partners, convert them to cryptocurrency on Binance Convert, or swap them on the spot market.

Further dealings with the Russian ruble are to be handled on CommEX, which owns the Russian business of Binance.

As part of its exit from Russia, Binance stopped accepting deposits in Russian rubles as of 15 November. Withdrawals will continue until 31 January 2024.

On 20 November, the platform removed ruble-denominated pairs with the largest cryptocurrencies.

Earlier reports indicated plans for the exchange to cease its partnership with the payment system Advcash. According to some reports, the reason was that through this gateway clients transferred funds from sanctioned Russian banks.